Insider Selling at Gyre Therapeutics, Inc. (NASDAQ:GYRE)

On December 19, 2023, President Songjiang Ma of Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) sold 2,000 shares of the company's stock. The sale occurred at an average price of $10.82 per share, resulting in a total transaction value of $21,640. Following this transaction, Songjiang Ma's holdings in Gyre Pharmaceuticals were reduced by 0.07%, leaving him with 2,936,467 shares, which are currently valued at approximately $31,772,572.94. This transaction was reported in a legal filing with the Securities and Exchange Commission (SEC), accessible through their official site.

In related news, Songjiang Ma has also sold shares on previous dates. On December 17, 2023, he sold another 2,000 shares at an average price of $11.05, totaling $22,100.

Stock Movement

On the trading day following these transactions, Gyre Therapeutics saw an increase of 9.5%, with its stock price reaching $12.20. The trading volume for this session stood at 111,450 shares, significantly higher than the usual average of 75,000 shares. Gyre Therapeutics has shown a range in stock prices over the past year, with a low of $8.26 and a high of $30.39.

Institutional Investor Interest

Recent changes in ownership by hedge funds and institutional investors are noteworthy. FMR LLC established a new position in Gyre Therapeutics during the third quarter, valued at around $47,000. Barclays PLC increased its stake by an impressive 281.8%, now holding 9,288 shares, valued at $116,000 after acquiring an additional 6,855 shares. Other notable investments include Rhumbline Advisers and Renaissance Technologies LLC, who also purchased positions in the company during the second quarter, valued at approximately $123,000 and $166,000, respectively. Collectively, institutional investors hold about 23.99% of the company's shares.

About Gyre Therapeutics, Inc.

Gyre Therapeutics, Inc. is a biopharmaceutical firm dedicated to the development and commercialization of its lead product, Hydronidone, intended for treating Metabolic Dysfunction Associated Steatohepatitis (MAS) in the United States. In addition, Hydronidone is being explored for its potential to treat liver fibrosis linked to a variety of chronic liver diseases.

Insider, Selling, Stock